CarMax Inc (NYSE:KMX) Earns “Market Perform” Rating from CIBC

CarMax Inc (NYSE:KMX)‘s stock had its “market perform” rating restated by CIBC in a research report issued on Thursday, October 5th.

A number of other equities analysts also recently issued reports on the company. Zacks Investment Research downgraded CarMax from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th. Wedbush reiterated an “outperform” rating and issued a $77.00 price objective (up previously from $73.00) on shares of CarMax in a research note on Wednesday, September 13th. ValuEngine upgraded CarMax from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. Royal Bank Of Canada reiterated a “market perform” rating and issued a $63.00 price objective (down previously from $71.00) on shares of CarMax in a research note on Tuesday, July 4th. Finally, Oppenheimer Holdings, Inc. restated a “buy” rating on shares of CarMax in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $77.93.

Shares of CarMax (NYSE:KMX) traded up 0.54% on Thursday, reaching $75.78. 145,490 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $71.54 and a 200-day moving average price of $64.40. CarMax has a 12-month low of $47.50 and a 12-month high of $77.64. The company has a market cap of $13.89 billion, a PE ratio of 21.76 and a beta of 1.38.

CarMax (NYSE:KMX) last announced its quarterly earnings results on Friday, September 22nd. The company reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.03. The firm had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.26 billion. CarMax had a return on equity of 21.88% and a net margin of 4.09%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.88 earnings per share. Equities research analysts anticipate that CarMax will post $3.81 EPS for the current fiscal year.

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In related news, EVP Edwin J. Hill sold 25,000 shares of the stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $75.75, for a total transaction of $1,893,750.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO William C. Jr. Wood sold 201,701 shares of the stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $73.56, for a total value of $14,837,125.56. Following the transaction, the chief operating officer now owns 146,717 shares in the company, valued at $10,792,502.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 642,520 shares of company stock worth $47,009,893. Corporate insiders own 1.90% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Korea Investment CORP raised its holdings in shares of CarMax by 140.5% in the 2nd quarter. Korea Investment CORP now owns 1,768 shares of the company’s stock worth $111,000 after purchasing an additional 1,033 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of CarMax in the 2nd quarter worth about $112,000. Seven Eight Capital LP purchased a new position in shares of CarMax in the 2nd quarter worth about $133,000. QS Investors LLC raised its holdings in shares of CarMax by 1.0% in the 2nd quarter. QS Investors LLC now owns 2,333 shares of the company’s stock worth $147,000 after purchasing an additional 22 shares during the period. Finally, Global X Management Co. LLC raised its holdings in shares of CarMax by 7.3% in the 1st quarter. Global X Management Co. LLC now owns 2,497 shares of the company’s stock worth $148,000 after purchasing an additional 169 shares during the period.

About CarMax

CarMax, Inc (CarMax) is a holding company. The Company is a retailer of used vehicles. The Company operates through two segments: CarMax Sales Operations and CarMax Auto Finance (CAF). The Company’s CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations, excluding financing provided by CAF.

Analyst Recommendations for CarMax (NYSE:KMX)

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